Q2 2024 EPS Estimates for Cytokinetics, Incorporated Boosted by Analyst (NASDAQ:CYTK)

Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) – B. Riley boosted their Q2 2024 earnings per share (EPS) estimates for Cytokinetics in a research report issued to clients and investors on Tuesday, June 4th. B. Riley analyst M. Mamtani now expects that the biopharmaceutical company will post earnings per share of ($1.10) for the quarter, up from their previous forecast of ($1.20). B. Riley has a “Buy” rating and a $92.00 price target on the stock. The consensus estimate for Cytokinetics’ current full-year earnings is ($4.53) per share. B. Riley also issued estimates for Cytokinetics’ Q4 2024 earnings at ($1.30) EPS, FY2024 earnings at ($4.90) EPS, FY2025 earnings at ($6.10) EPS, FY2026 earnings at ($5.90) EPS, FY2027 earnings at ($0.20) EPS and FY2028 earnings at $4.10 EPS.

Cytokinetics (NASDAQ:CYTKGet Free Report) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The firm had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. During the same period last year, the business posted ($1.38) earnings per share. Cytokinetics’s quarterly revenue was down 81.8% on a year-over-year basis.

CYTK has been the topic of a number of other reports. Mizuho dropped their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Needham & Company LLC dropped their price objective on Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Oppenheimer reduced their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Barclays dropped their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Truist Financial reduced their price objective on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.41.

View Our Latest Analysis on CYTK

Cytokinetics Stock Performance

CYTK opened at $52.28 on Friday. The company has a fifty day moving average of $62.47 and a two-hundred day moving average of $64.57. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -9.68 and a beta of 0.74. Cytokinetics has a fifty-two week low of $25.98 and a fifty-two week high of $110.25.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its position in shares of Cytokinetics by 94.1% during the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 318 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Cytokinetics during the first quarter worth about $74,000. GAMMA Investing LLC acquired a new stake in shares of Cytokinetics during the fourth quarter valued at about $80,000. Bessemer Group Inc. raised its stake in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 1,255 shares during the period. Finally, Sage Rhino Capital LLC acquired a new position in shares of Cytokinetics in the 4th quarter worth approximately $204,000.

Insider Activity at Cytokinetics

In other Cytokinetics news, CAO Robert Wong sold 13,011 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $48.88, for a total value of $635,977.68. Following the completion of the sale, the chief accounting officer now directly owns 16,653 shares in the company, valued at approximately $813,998.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the sale, the executive vice president now owns 138,567 shares in the company, valued at approximately $10,296,913.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert Wong sold 13,011 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $48.88, for a total value of $635,977.68. Following the completion of the transaction, the chief accounting officer now owns 16,653 shares in the company, valued at $813,998.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,305 shares of company stock valued at $4,829,643. 3.40% of the stock is currently owned by insiders.

Cytokinetics Company Profile

(Get Free Report)

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.

Further Reading

Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.